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I might or might not make this a regular feature and that is to talk to myself what I did to my portfolio (if there should be any activity) in the preceding month.
I guess I will just do it whenever I feel the inclination to do so just like with so many things I do in my retirement.
In middle of January, a fellow blogger asked me:
"ComfortDelgro has fallen quite a bit. I have been slowly accumulating over a period of time. So, are you?"
In reply, I said:
"I don't know if you read in the blog that I reduced my investment in ComfortDelgro in 4Q 2022 or you missed it but it is a smaller investment for me now."When its stock price bounced up to test resistance, I lightened my position.
"Technically, its stock price looks like it could go lower and I am watching $1.15 at this point.
"The main reason why I was not as aggressive in reducing my investment in ComfortDelgro compared to Centurion Corp. is its relatively strong balance sheet."
True to my word, I went and increased my investment in ComfortDelgro at $1.15 later on.
Suddenly, I am reminded of some people who went on a diet to lose weight but gave up and gained back all the weight they lost.
Alamak.
Not like that lah.
The increase in size although pretty significant, percentage wise, was on a much smaller investment than it was a year ago.
So, didn't gain back all the weight lah.
Technically, ComfortDelgro's stock price is still in a downtrend but it could be in a bottoming process now.
The moving averages are still in decline.
Could ComfortDelgro's stock retest its low of $1.13?
If it does and if I see a positive divergence which means lower price but higher lows in the momentum oscillators, I would probably buy some.
Will be looking out for a double bottom too.
Fundamentals look to be stabilizing and although I am not expecting an increase, this year's dividends should still be meaningful.
Other than ComfortDelgro, I added more T-bills to my portfolio.
I used cash to get both the 4.2% p.a. and 4.0% p.a. 6 months T-bills in January.
A YouTube video from AK:
I also used most of my CPF-OA money to get the 3.87% p.a. 1 year T-bill in the same month.
Although I would not be including the income from the 1 year T-bill in my quarterly passive income report, I thought I should just make a mention for the sake of completeness.
I will account for the income from the 1 year T-bill as interest income in my CPF account and rightly so as the money has been credited into my CPF-OA where it will still be making 2.5% p.a.
I know I said I am looking forward to being lazier as an investor in 2023.
Well, there are 11 months left to be lazy.
There is hope!
Another YouTube video from AK:
Recently published:
References:
1. My CPF account hacked?
2. Largest investments updated.
3. 4Q 2022 passive income.
1. My CPF account hacked?
2. Largest investments updated.
3. 4Q 2022 passive income.
Bloggy Award
9 comments:
Dear AK
I cut my losses on 50% of my CDG holdings and heaved a sigh of partial relief
Neither am I expecting a return of the share price to 2$ plus territory nor do I expect significant hikes in dividends
Their cup of woes is overflowing and will continue to do so
Deployed that capital in UOB and am waiting to get rid of the rest
Singtel is also in the same league although better
The dividend darlings of yesteryears have become eyesores
Best wishes
Garudadri
Hi Garudadri,
I also reduced my investment in ComfortDelgro and took a loss a few months ago.
Deployed most of the funds to OCBC and UOB, increasing the sizes of those investments by 11% and 19% respectively.
Some of the funds went to increasing my investment in IREIT Global too.
I like to think that all investments are good investments at the right price.
I topped up my position in ComfortDelgro in January partly because it's share price went much lower than the price I took a loss at last year.
Of course, low could go lower and I mainly took a bite because the chart suggested that the bottom could be in for ComfortDelgro and that further downside could be limited.
If we are looking for capital gains, ComfortDelgro is a poor candidate at this point but as an investment for income, it should be pretty decent mostly due to yield expansion.
Crossing fingers.
Hi AK,
You reduce your investment in centurion?
Hi becks,
You must have missed a few blogs, starting with this one:
Reallocate as interest rate rises...
I began reducing my investment in Centurion Corp in May last year.
I went on to update my blog on my largest investments to reflect this move.
See:
Largest investments updated (2Q 2022.)
The latest update was for 4Q 2022:
Largest investments updated (4Q 2022.)
Dear AK
I remembered reading your past blogs on waiting for price to bounce up while collecting dividend. Why would you divest CDG now, some more at a loss since it can potentially recover given it's strong balance sheet. Also, how much of a loss in percentage would you stomach to change out?
Hi CL,
CDG's stock price was firmly in a downtrend.
I reduced exposure when it had a rather vigorous bounce and approached resistance provided by the long term 200 days moving average.
It happened sometime in the first half of November 2022, if I remember correctly.
So, I did wait for a bounce. :)
Although I booked an almost 40% loss, it was a fortuitous decision as investing the funds in UOB and OCBC has produced much better results.
To illustrate, I sold CDG at $1.34, bought UOB at $26 and OCBC at $11.50.
Look at their stock prices today.
CDG has a strong balance sheet but so do OCBC and UOB.
However, CDG is facing headwinds while OCBC and UOB are getting a boost from a strong tailwind.
We don't have to make money the same way we lost it.
Still, when CDG's stock price fell to $1.15 which I thought was overdone in January 2023, I increased exposure again.
For now, that looks like a good decision. :)
Hi CL,
I just checked my records.
Correction, I started selling CDG in first half of October 2023 at $1.25 to $1.27.
Later on, I sold more at $1.34 in first half of November 2023.
Memory growing patchy. -.-"
Hey AK
do u mean 2022?
Hi Yv,
Alamak! You are right! LOL!
Correction on correction. ;p
I started selling CDG in first half of October 2022 at $1.25 to $1.27.
Later on, I sold more at $1.34 in first half of November 2022.
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